Funds buy record amounts of longer-dated Treasuries at auctions
- S&P 500 edges down on virus woes, slowing economy
- 'Becoming JP Morgan of the Future': Square (SQ) Dips on Deal to Acquire BNPL Afterpay For $29B in Stock, Benefits Outweigh High Price Says Analyst
- Oil falls over 3% on concerns over demand and OPEC supply boost
- ON Semiconductor (ON) Surges on Strong Q2 Results and Q3 Outlook
- Dollar wavers on dovish Fed tone, mixed economic outlook
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
NEW YORK (Reuters) - Investment funds purchased record amounts of longer-dated U.S. government debt during the quarterly refunding conducted in early August, according to Treasury Department data available going back to 2000.
Investment managers bought $12.444 billion at a $29 billion 10-year note auction, compared with the $9.961 billion they purchased the previous month, the Treasury data released on Tuesday showed.
They bought $9.241 billion of the $15 billion in 30-year bonds offered earlier this month, which was far more than the $7.068 billion they bought in July.
Foreign investors, another major group of holders of U.S. government debt, bought $1.783 billion of the latest 10-year supply, the least amount they bought at an auction since June 2009 and well below the $3.405 billion they purchased the previous month, according to the Treasury’s auction allotment data.
Foreign investors bought $1.147 billion of 30-year bonds versus $0.723 billion the previous month.
The Treasury also sold some of $30 billion of 10-year notes earlier this month to banks, pension funds and Wall Street bond dealers.
At other auctions held the same week as the 10-year auction, large investment managers bought $11.349 billion of 3-year notes, compared with the $8.502 billion they purchased the previous month.
Overseas investors bought $6.108 billion of the latest 3-year supply, compared with $6.070 billion they purchased the previous month.
The Treasury offered $31 billion in 3-year notes and $20 billion in 30-year bonds.
(Reporting by Richard Leong; Editing by Leslie Adler)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fed Reverse Repo Facility Tops $1 Trillion for the First Time - Bloomberg
- Fed maintains federal funds rate at 0 to 1/4 percent
- StanChart reinstates payouts but income drop signals challenges ahead
Create E-mail Alert Related CategoriesETFs, General News, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!